Why hasn't Google entered the cryptocurrency space?

Question

You know FB has a team that worked on Libra. And Amazon also has a team on crypto. But surprisingly Google, being the most technically focused compang among the FAANG and has the most moonshot projects, has yet to dapple into cryptocurrency. You would think they would go head first into dapp, DeFi or maybe even acquire some crypto companies. Given how big the crypto space is getting, do you think Google has a plan to invest into it?

ggm · Accepted Answer

The words currency and invest tell you all you need to know. Currency investment is actually currency speculation, digital or fiat. It would be done by Google finance investment managers on their high risk side.
Google secures more income by letting 1,000,000 stupid crypto currencies use GCP for infrastructure and by search related revenue than it would from "inventing" google bucks. There's no novel technology side to block chain for Google inherent in currency.
If they did a non repudiation chain rooted in an HSM with no proof of work or stake, for tiny per million transactions fee, and let everyone do public non repudiation transactional ledger, THAT would be interesting. No crypto currency. Good crypto in verified chain state which doesn't demand the heat death of the universe to compute. And at scale.

randomopining · Answer

What's the benefit of a centralized entity for putting the effort/brainpower into making a decentralized currency?

fuzzfactor · Answer

You would think they already have enough of the regular currencies.

NicoJuicy · Answer

Why would that suprise you?